Waiver of Subrogation and Contribution Rights Clause Samples
The Waiver of Subrogation and Contribution Rights clause prevents one party’s insurer from seeking reimbursement from the other party for claims paid out under an insurance policy. In practice, this means that if a loss occurs and the insurer compensates the insured, the insurer cannot pursue the other party involved in the contract to recover those costs, nor can parties seek to share or shift liability through contribution claims. This clause is commonly used to minimize litigation between contracting parties and their insurers, ensuring that each party’s insurance responds to losses without shifting blame or costs, thereby promoting smoother business relationships and reducing disputes over liability.
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Waiver of Subrogation and Contribution Rights. Until the Obligations have been irrevocably paid in full and the Commitments have been terminated, the Guarantors shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any right of reimbursement or contribution or similar right against the Borrower by reason of this Guaranty or by any payment made by any Guarantor in respect of the Obligations.
Waiver of Subrogation and Contribution Rights. Until the Obligations have been paid in full in cash (other than indemnities and other contingent obligations (other than contingent obligations in respect of Letters of Credit, excluding Letters of Credit that have been cash collateralized in a manner reasonably satisfactory to the applicable Issuing Bank or with respect to which other arrangements have been made that are satisfactory to the applicable Issuing Bank) not then due and payable and as to which no claim has been made as of the time of determination) and the Commitments have expired or have been terminated, the Guarantors shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any right of reimbursement, indemnity or contribution or similar right against the Borrower by reason of this Guarantee or by any payment made by any Guarantor in respect of the Obligations. No failure on the part of the Borrower or any other Guarantor or Grantor to make the payments required by Article III hereof (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor and Grantor shall remain liable for the full amount of the obligations of such Guarantor hereunder.
Waiver of Subrogation and Contribution Rights. Until the Obligations have been irrevocably paid in full and the Revolving Credit Commitments have been terminated, the Guarantors shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any right of reimbursement or contribution or similar right against the Borrower by reason of this Agreement or by any payment made by any Guarantor in respect of the Obligations.
Waiver of Subrogation and Contribution Rights. Until the Guarantied Obligations have been irrevocably paid in full and the Commitments have been terminated, the U.S. Borrower shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against any Euro Borrower or any right of reimbursement or contribution or similar right against any Euro Borrower by reason of this Agreement or by any payment made by the U.S. Borrower in respect of the obligations under this Agreement or the Notes.
Waiver of Subrogation and Contribution Rights. The Guarantors hereby waive any right of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any Guarantor or any right of reimbursement or contribution or similar right against the Borrower or any Guarantor by reason of this Agreement or by any payment made by any Guarantor in respect of the Obligations.
Waiver of Subrogation and Contribution Rights. Until the Obligations have been paid in full in cash (other than indemnities and other contingent obligations not then due and payable and as to which no claim has been made as of the time of determination) and the Commitments have expired or have been terminated, the Guarantors shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any right of reimbursement, indemnity or contribution or similar right against the Borrower by reason of this Guarantee or by any payment made by any Guarantor in respect of the Obligations. No failure on the part of the Borrower or any other Guarantor to make the payments required by Article III hereof (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor shall remain liable for the full amount of the obligations of such Guarantor hereunder.
Waiver of Subrogation and Contribution Rights. Until the Guaranteed Obligations have been irrevocably paid in full and have been terminated, GMS shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Agent or any Purchaser or any part of them against the Loan Parties or any right of reimbursement or contribution or similar right against the Loan Parties by reason of this Guaranty or by any payment made in respect of the Guaranteed Obligations.
Waiver of Subrogation and Contribution Rights. Until the Guarantied Obligations have been irrevocably paid in full and the Commitments have been terminated, the Euro Borrower Guarantor shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against any Euro Borrower or any right of reimbursement or contribution or similar right against any Euro Borrower by reason of this Agreement or by any payment made by the Euro Borrower Guarantor in respect of the Obligations.
Waiver of Subrogation and Contribution Rights. Until the Guaranteed Obligations have been irrevocably paid in full and the Commitments under the Loan Documents and the Foreign Loans have been terminated, the Subsidiary Guarantors shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Guarantied Parties or any part of them against the Borrower or any Foreign Borrower or any right of reimbursement or contribution or similar right against the Borrower or any Foreign Borrower by reason of this Agreement or by any payment made by any Subsidiary Guarantor in respect of the Guaranteed Obligations. U.S. SUBSIDIARY GUARANTY FMC CORPORATION
Waiver of Subrogation and Contribution Rights. Until the --------------------------------------------- Obligations have been irrevocably paid in full, each Subsidiary Guarantor shall not enforce or otherwise exercise any right of subrogation to any of the rights of the Secured Parties against the Borrower or any other Subsidiary Guarantor or any right of reimbursement or contribution or similar right against the Borrower or any other Subsidiary Guarantor by reason of this Agreement or by any payment made by any Subsidiary Guarantor in respect of the Obligations.